How Do You Say Wall Street Crisis in French?

Banks are going bankrupt, credit has disappeared, worldwide markets are falling, the Russians have halted trading, China’s communist government is about to buy Morgan Stanley and the American government is bailing out firms that less than one week ago were considered Wall Street giants.

All of the sudden recession is a happy word and the word you don’t say out loud starts with a D.

Feeling a little bit anxious? Need to get your mind off your retirement savings and stock portofolio for a while?

Easy. Just pick up a copy of one of Québec’s French-language newspapers and travel to a world where the crisis hasn’t arrived yet.

Two out of Montreal’s three French-language dailies managed to fill their front pages on Thursday September 18th 2008 – after the US government’s bailout of AIG failed to stabilize panicked markets – without printing a single word about the unprecedented upvheal currently rocking the financial world.

Québec’s biggest daily, le Journal de Montréal leads with an exclusive poll revealing that voters – shock! – don’t believe politicians’ promises and Le Devoir remains convinced that their series on ‘Succeeding in Life’ is what is on readers minds right now.

La Presse has a small teaser on the front page sending readers to inside pages for more about the markets.

Of Gesca’s seven dailies, only La Presse, Québec City’s Le Soleil and Ottawa/Gatineau’s Le Droit published a secondary headline about the crisis. Gesca’s papers have a monopoly on daily newspapers in Québec, except in Montreal and Québec city.

In the ROC, Toronto’s National Post and Globe and Mail are covering this story extensively while smaller dailies of either the Sun or CanWest chains seem to believe that this historical economic event will somehow pass Canada by…

37 Responses

(Sorry AFG – I just put nowebsite as website because I don’t have one, but obviously someone had the clever idea to register the name for commercial purpose. Please remove it if possible.)

Small correction: it’s a five page coverage on the 18th (it was also covered the 19th, and is still today).

By the way, the situation _is_ a lot different here in Canada, perhaps because of the influence of “Marx and Engels”: evidently, Marx, as everyone know, wrote in a unpublished manuscript of Das Kapital that you should regulate banking systems under whatever name they take, in a system with a central bank, and that the financial market will not discipline itself by magic. Hum, not sure of that one. Perhaps that’s not orthodox marxism. But that was to leftist for the Bush administration, at least.

Couldn’t you say the exact same thing about Liberal, Conservative and and NDP MPs?

Yes you can. Bang on. However here is the diff. The Bloc raison d’etre is to separate Quebec from Canada but the reality is this is the furthest thing from their mind. They just need folks like you to keep on voting them in , so they feed you the crap.

And yes the Liberal and the Tories do the same thing however they are not trying to start a war and revolution. they are just debating social and economic issues

You are clearly a propagandist/polemicist who has mistaken himself for an analyst.

Again I don’t care if Quebec separates. Just like I don’t care if Hawaii or Texas separates from the USA. I will be long gone from the Quebec doom However I’ll give you a realistic idea of what the consequences will be in the aftermath all you need to do is look at history. Separation breeds partition and economic problems. Then partition breeds war and suffering. Even in a country like Czechoslovakia where there was no war after separation the czech repluic (Canada) had an economic boom cause they cut off the fat. Whereas Slovakia(Quebec) was economically challenged. All you need is to talk to people who live there

“Whereas Slovakia(Quebec) was economically challenged. All you need is to talk to people who live there”

I believe Slovakia had the highest GDP growth in the EU last year, over 10% in fact…

And they started off their independence adventure with a post-Communist economic structure in total disarray with little to no experience with capitalism, entrepreneurship, etc.

As I’ve mentioned previously, I am not in favour of independence of Quebec, but people on both sides do have to be at least somewhat serious in their argumentation on the issue.

Your doom and gloom is just the opposite side of the coin from the sovereignist “magicians” who claim that all we would pay in income tax in an independent Quebec is what we pay to the Quebec government at the moment, that our federal income tax burden would disappear (because there wouldn’t be a federal government – presto!), but that government services would nonetheless remain the same.

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